Home > uncategorized > “The Top 10 Reasons Restaurants Fail” by Andy Simmons for Biznik

“The Top 10 Reasons Restaurants Fail” by Andy Simmons for Biznik

Andy Simmons has written an excellent, insightful article on the main obstacles that ultimately sink restaurant owners. If you know the common mistakes, your chances are that much better.

(Excerpted, Read Full Original Here)

Don’t let these 10 challenges stop you from creating and growing your dream business.

Owning a restaurant in a good economy is a challenge. Owning one in a down economy is even more difficult. Here are the top 10 reasons why restaurants fail. Avoid these mistakes.

1. Constrained by Your Vision. A savvy owner knows it’s all about the customer, not his or her personal tastes and opinions.  Don’t be self-possessed.  Be open to opinions other than your own.

2. No Identity. Lack of identity is the opposite of being constrained by your vision. A restaurant’s success depends on its ability to establish a brand and stick to it, so develop an identity and focus on perfecting it.

3. A Bad Opening.  “You never get a second chance to make a good first impression” was never truer than in the restaurant business.  There’s a reason actors rehearse before opening night—you should too.

4. Hiring & Training…

5. No Formal Recipes…

6. Poor Inventory Management…

7. Undercapitalization…

8. Poor Ownership…

9. Insufficient Market Analysis…

10. Lack of a Business Plan…

Read Full Text Here.

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